Morgan Stanley analyst Matthew Harrison notes investors’ concerns about the impact CMS draft language has on 8 mg Elyea that all dosages/strengths, even with separate BLAs, of the same API have the same negotiation timeline under IRA. However, the firm sees "multiple paths" for Regeneron to win and views any pressure on the shares from the CMS draft IRA guidance as a buying opportunity, said the analyst, who maintains an Overweight rating and $883 price target on the stock.
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